Economic Problem in the Philippines

1596 WordsJan 27th, 20137 Pages

10 Economic Problems of the Philippines

1. Over-dependence on Global Economy The growth of the Philippines economy drastically slowed to just 3.6% in the first three quarters of 2011, which is significantly less than the 7%-8% growth targeted by administration's Philippine Development Plan (PDP). Though the slowdown may have been due to the ongoing global crisis, it was markedly slower in comparison to other South-East Asian neighbors. Economic performance figures indicated a contraction in exports and a drop in FDI. Though the remittances from overseas Filipinos to the country grew in the first ten months of 2011, however the compensation that overseas Filipinos received actually fell, in peso terms, due to an appreciating…show more content…

We need to improve more citizen empowerment by Personal Monetary emitting. We need to improve more popular access to micro credits.

4. Scarcity of Resources. Scarcity is the fundamental economic problem of having humans who have unlimited wants and needs in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs. Alternatively, scarcity implies that not all of society's goals can be pursued at the same time; trade-offs are made of one good against others. In an influential 1932 essay, Lionel Robbins defined economics as "the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.

5. Poverty Poverty is the state of one who lacks a certain amount of material possessions or money. Absolute poverty or destitution refers to the deprivation of basic human needs, which commonly includes food, water, sanitation, clothing, shelter, health care and education. Relative poverty is defined contextually as economic inequality in the location or society in which people live. To resolve poverty Filipino people must be given a job with a right salary. Education must be a right not a privilege. Government must consider education as a key to people’s success. There must be a branch of government whose function is to solely look over and follow up those people who suffers from poverty. And teach them how to…

Problems and Issues in the Philippine Educational System
1. Colonial historiography.
Most of the past and present teachers, book authors, and Social Studies consultants give heavier premium to the history of the colonizers in the Philippines, and not to the history of Filipinos. Mostly, this has been the case in the teaching of History subjects from the elementary to tertiary levels and will most likely perpetuate in the next generations to come. The history of the Filipino people and the colonial…

Philippine Contemporary Problems and Issues
POVERTY - The state of being extremely poor.
- The state of being inferior in quality or insufficient in amount.
Causes of Poverty
1. Rapid Population Growth
As the Philippines has financially limited resources and a high poverty rate, the rapid increase in population has become a problem because there is already insufficient resources to support the population, which leaves much fewer resources to improve the economy. From 2003 to 2006,…

Institutional Economics and the Philippines
New Institutional Economics offers a way to examine the dynamics of growth -particularly with an eye toward explaining the problems of slow growth in developing economies, where market systems may be presumed to be weak or incomplete. I will review these concepts within the framework of the Philippines, a sizable country with a rich and diverse set of resources, which however is not achieving significant growth.
At present the Philippines is in a depressed…

Philippine Deforestation: Final Paper
Deforestation is one of the most crucial problem of the Philippines today, because of poor economic performance, weak polices, legal institutions and government laws, increasing population, poverty, corruption , agricultural expansion and lastly, extensive commercial logging activities. Philippines is a beautiful country rich in its biodiversity and natural resources, the country has 7,107 islands with a land area of 300,000 square kilometers. Unfortunately…

elections composed of a chairman and six commissioners who shall be natural – born citizens of the Philippines and, at the time of their appointment, at least thirty- five years of age, holders of a college degree, and must not have been candidates for any elective position in the immediately preceding elections. However, a majority thereof, including the chairman, shall be member of the Philippine bar who have been engaged in the practice of law for at least ten years.
2. The chairman and the…

History Of Pakistan
Economic Problems Faced by Today’s Pakistan
Table of Contents
Introduction 4
Poverty 4
Illiteracy 5
Corruption & Political Instability 5
Over Population, Unemployment & Inflation 6
International Interference 8
Terrorism/Extremism 8
Recent Floods 9
Long-Term Effects of Pakistan Floods 9
Reference 11
Introduction
Pakistan was established in 1947 and since its inception; it has been surrounded by countless issues, some of which are confined to ill-formed/missing infrastructure…

UNIT 1 – FUNDAMENTAL PROBLEMS OF ECONOMIC SYSTEMS
1.1 INTRODUCTION
In this unit you will get acquainted with the fundamental problems of the economy. The understanding of the concept will help you bring closer to the basic idea of the economy’s problems as well as remedies of such problems. In this unit you will get detailed description of what is an economic system, problems of economic system, factors of production, concept of production possibility curve, and the fundamental of allocation of resources…

with the threat of water shortage in the future. This problem has created an economic problem and urged the Australian government to find the solutions for this problem. This essay will explain the economic problem and answer the question how do markets attempt to solve the problem of water scarcity in Australia, focusing on the economic problem, water scarcity in Australia, the role of markets and water market in Australia.
The economic problem can be known as the competition between unlimited wants…

Socio-economic issues in India
Overpopulation
India suffers from the problem of overpopulation. The population of india is very high- 345 million approx. [1][2][3] Though India ranks second in population, it ranks 33 in terms of population density below countries such as The Netherlands, South Korea and Japan. There is a lot of problems which arise due to such a large population. Problems such as unemployment , excessive pressure on environment, social infrastructure and the most important food availability…

Socio Economic Problems of Pakistan
By: Sehar Sheikh
Outline:
Introduction:
• A problem-free society; desire of every individual
• Defining social and economic problems
• Why they are a menace?
A. Social Problems
• Problems at the time of separation grew with the passage of time
• The current scenario
a. Poor law and order situation
b. Poverty
c. Illiteracy
d. Corruption
e. Unemployment
f. Child Labour
B. Economic Problems
• Power crises and war on terrorism, root of basic economic problems…